Special Investigating Units and Special Tribunals Act, 1996
R 385
Co-operatives Act, 2005 (Act No. 14 of 2005)Chapter 8 : Amalgamation, Division, Conversion and Transfer61. Effect of registration of co-operatives constituted in terms of division |
As from the date of the last registration of a co-operative constituted in terms of a division—
| (a) | the registration of the co-operative being divided is cancelled; |
| (b) | the members of the co-operative being divided become members of the co-operatives constituted in terms of the division, in accordance with the agreement to divide; and |
| (c) | the assets, rights, liabilities and obligations of the co-operative being divided become the assets, rights, liabilities and obligations of the co-operatives constituted by the division in accordance with the agreement to divide. |
